FACTBOX: Asian property markets holding up despite credit woes

(Leading property industry figures at gathering at this year's Reuters Global Real Estate Summit to be held in London, New York, Singapore, Dubai, and Moscow from June 23-25. For exclusive news from the summit, click here)

While Western property markets have been hit hard by the global credit crunch, Asian commercial and residential markets are still generally healthy because their rise has been less dependent on the availability of cheap debt.

Some highly leveraged Australian firms have suffered and the Tokyo office market is cooling after a strong five-year run-up, but Asia's main cities are likely to see prices and rents hold firm rather than fall in the next couple of years.

Property investment in Asia grew by 27 percent last year to $121 billion, which was evenly allocated over the first and second halves of the year, unlike in Europe and North America, where investment slowed dramatically in the second half.

Here is a summary of trends in Asia's main property markets:

AUSTRALIA

The global credit crunch has hit some Australian property firms that depended on high levels of borrowing.

Centro Properties Group (CNP.AX), an operator of shopping malls in the United States and Australia, has struggled to refinance its debt and has had to try to sell assets to raise cash.

Media reports have said U.S. private equity firm Blackstone Group (BX.N) and a unit of General Electric Co (GE.N) are potential buyers. Babcock & Brown Ltd (BNB.AX) saw its shares slide this month on similar concerns about its debt.